There’s a new member of the German unicorn club. Munich fintech Scalable Capital is now worth USD 1.4 billion according to business website deutsche-startups.de. This comes after a USD 180 million financing round propelled by unnamed investors from Asia. Previous investors include BlackRock.
Founded in 2014, the neo-broker offers users the chance to manage their investments, including stocks, ETFs and funds, for a flat monthly fee of only EUR 2.99. Services include both robo-advisors and actively managed packages.
The Scalable app has drawn rave reviews from leading German consumer rating agencies and currently boasts 300,000 clients. Its services address traditionally conservative German sensibilities, including a fondness for savings accounts, on money matters and include a German-best 1,500 ETFs.